New Single Touch Payroll (STP)

09 Jun
Taxation Services Melbourne

New Single Touch Payroll (STP) reporting starts 2019 financial year! Contact us to understand your obligations

Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO. Businesses used to report this information to the ATO once a year. For most of businesses, from 1 July 2019, they need to send a report to the ATO after each pay day. And those reports must be submitted using a solution that is Single Touch Payroll compliant, such as payroll or accounting software.

Comment: We believe STP reporting will additional compliance costs to small businesses. Speak to us today, see how we can help to reduce reporting cost and reduce compliance risks.

When do you need to be STP compliant?

  • Large employers with 20 or more employees should now be reporting through STP
  • Small employers with 19 or less employees will need to report through STP any time before 30 September 2019 – (starting 1 July 2019)
  • If you’re an employer with four or less employees. You can choose to report through your us as your tax agent on a quarterly basis until 30 June 2021. We must apply for the concession on your behalf by 30 September 2019.

How to you become STP Compliant?

  • Contact us to determine the best reporting solution suitable for your business needs
  • ATO needs to be notified your STP enrolment
  • We will assist in set-up your payroll system on Xero, so you can or we will on your behave file your payroll to the ATO every time you pay your employees
Contact us if you are not ready for Single Touch Payroll. We can help you understand what’s involved and how to be compliant with the latest payroll software.

Let’s tailor the right solution for your business